Millennium Management LLC bought a new stake in Nlight Inc (NASDAQ:LASR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,147 shares of the company’s stock, valued at approximately $600,000. Millennium Management LLC owned approximately 0.05% of Nlight at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in LASR. Russell Investments Group Ltd. purchased a new stake in Nlight in the second quarter valued at approximately $107,000. Bank of Montreal Can purchased a new stake in Nlight in the second quarter valued at approximately $158,000. Rhumbline Advisers purchased a new stake in Nlight in the second quarter valued at approximately $202,000. Essex Investment Management Co. LLC purchased a new stake in Nlight in the second quarter valued at approximately $225,000. Finally, Carillon Tower Advisers Inc. purchased a new stake in Nlight in the second quarter valued at approximately $317,000. 47.10% of the stock is currently owned by institutional investors and hedge funds.
LASR has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Nlight from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Raymond James raised shares of Nlight from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, September 21st. Benchmark initiated coverage on shares of Nlight in a research note on Tuesday, August 28th. They issued a “sell” rating on the stock. Stifel Nicolaus lowered their target price on shares of Nlight from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. Finally, Needham & Company LLC lowered their target price on shares of Nlight from $37.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.50.
LASR stock opened at $20.48 on Friday. Nlight Inc has a one year low of $16.25 and a one year high of $43.63. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.69 and a current ratio of 5.73.
Nlight (NASDAQ:LASR) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $51.03 million for the quarter, compared to analysts’ expectations of $49.20 million. Nlight’s revenue was up 39.6% compared to the same quarter last year. Research analysts forecast that Nlight Inc will post 0.31 earnings per share for the current fiscal year.
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Nlight Company Profile
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in various end applications in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in North America, Asia, and Europe.
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